NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Highlights: Formation has planned a 20,000 metre total multi-phase drill program at its flagship N2 Gold Project in Quebec, host to a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4 . Phase 1, consisting of a fully funded 10,000 metres, commenced on September 25, 2025.
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Brief Summary
Formation Metals has successfully completed a private placement totaling $6,000,000, fully allocated to support its ambitious initiatives in the N2 Gold Project located in Quebec. This investment enables the company to advance its multi-phase drill program, which spans 20,000 metres.
- Global historic resource of ~870,000 ounces
- 10,000 metre Phase 1 drill commenced on September 25, 2025
- Focus on high-grade zones with potential for further discoveries
- Bolsters FOMTF’s position in the competitive gold sector
Why it matters: This funding solidifies Formation Metals’ commitment to expanding its assets and enhances its position for future growth.
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